Imperial Valley News Center

President Donald J. Trump Tackles Our Broken Tax System

Washington, DC - “We believe every-day Americans know better how to spend their own money than the federal bureaucracy, and we want to help them keep as much of that hard-earned money as we can.” ~ President Donald J. Trump

AN AMERICA FIRST TAX SYSTEM: President Donald J. Trump is working to reform our tax system so that Americans are treated fairly and can keep more of their hard-earned money, and companies can bring jobs back to the United States.

President Trump will jumpstart America’s economic engine by making it the most desirable country in the world for businesses to invest and grow.

By lowering taxes, President Trump is helping boost take-home pay for all American workers.

President Trump will restore fairness to our tax system by simplifying the tax code and closing special interest loopholes.

Making our tax code competitive puts the American economy and the American worker first.

A BURDEN ON AMERICAN TAXPAYERS: The current tax code has grown out of control in length and complexity so that many Americans must rely on professional help to file even the simplest return.

The tax code has increased so much in length and complexity that hundreds of pages in instructions are necessary to file even the most basic tax returns.

The typical Form 1040, used by most American families, has grown to 79 lines from only 34 lines in 1935, according to the National Taxpayers Union.

The instructions alone for the form has grown to 241 pages from just 2 pages in 1935.

The tax code is over six times as long as it was in 1955, according to the Tax Foundation.

A complex and ever changing tax code is unworkable for most Americans, forcing them to spend too much of their time and income on paid professionals and filing aids just to pay their taxes.

Taxpayers spend over 6 billion hours annually complying with the tax code, according to the IRS’s Taxpayer Advocate Service.

Just to comply with the tax code puts a $262 billion burden on the economy, according to the National Taxpayers Union.

Over half of all tax returns filed in 2017 were prepared by a tax professional, according to the IRS.

94 percent of taxpayers paid someone or used software to prepare their returns, according to the National Taxpayers Union.

91 percent of small businesses hired a professional to do their taxes, according to the National Federation of Independent Business.

The Form 1040 tax return used by most Americans costs $176 to complete with the average accounting firm, according to the National Society of Accountants.

Small businesses incur between $15 and $16 billion on tax compliance costs, according to the National Federation of Independent Business.

It is no wonder that, according to IBISWorld, the tax preparation industry earned $10 billion in revenue in 2016.